Albany International Corp. (NYSE:AIN) Declares $0.27 Quarterly Dividend

Albany International Corp. (NYSE:AIN) announced a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.27 per share by the textile maker on Monday, April 7th. This represents a $1.08 dividend on an annualized basis and a yield of 1.35%.

Albany International has raised its dividend by an average of 9.0% annually over the last three years. Albany International has a payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Albany International to earn $3.79 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 28.5%.

Albany International Trading Down 3.1 %

AIN stock traded down $2.58 during mid-day trading on Friday, reaching $79.86. The company’s stock had a trading volume of 140,304 shares, compared to its average volume of 115,885. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 24.96 and a beta of 1.34. The business’s 50 day moving average price is $80.64 and its 200 day moving average price is $81.85. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. Albany International has a 12 month low of $67.39 and a 12 month high of $98.73.

Analyst Upgrades and Downgrades

AIN has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Truist Financial upped their price target on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Bank of America cut their price objective on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.75.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.